Rep. Josh Gottheimer Buys Vertiv Holdings Co (NYSE:VRT) Stock

Representative Josh Gottheimer (D-New Jersey) recently bought shares of Vertiv Holdings Co (NYSE:VRT). In a filing disclosed on November 06th, the Representative disclosed that they had bought between $1,001 and $15,000 in Vertiv stock on October 17th. The trade occurred in the Representative’s “MORGAN STANLEY – SELECT UMA ACCOUNT # 1” account.

Representative Josh Gottheimer also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Texas Capital Bancshares (NASDAQ:TCBI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ITT (NYSE:ITT) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Stifel Financial (NYSE:SF) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of ICU Medical (NASDAQ:ICUI) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of AppFolio (NASDAQ:APPF) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Gates Industrial (NYSE:GTES) on 10/31/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/29/2024.
• Purchased $1,001 – $15,000 in shares of Techtronic Industries (OTCMKTS:TTNDY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Disco (OTCMKTS:DSCSY) on 10/28/2024.
• Purchased $1,001 – $15,000 in shares of Enerpac Tool Group (NYSE:EPAC) on 10/25/2024.

Vertiv Stock Up 0.4 %

VRT traded up $0.48 during trading on Friday, hitting $122.65. The company had a trading volume of 1,420,146 shares, compared to its average volume of 8,214,724. The company has a market cap of $46.04 billion, a PE ratio of 81.78, a P/E/G ratio of 1.15 and a beta of 1.58. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.38 and a quick ratio of 1.02. Vertiv Holdings Co has a 1-year low of $39.51 and a 1-year high of $124.86. The business has a 50-day moving average of $98.93 and a 200-day moving average of $91.90.

Vertiv (NYSE:VRT) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 7.72% and a return on equity of 55.33%. The firm’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, analysts forecast that Vertiv Holdings Co will post 2.69 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.08%. Vertiv’s dividend payout ratio is presently 6.67%.

Institutional Trading of Vertiv

A number of hedge funds have recently bought and sold shares of VRT. Norden Group LLC acquired a new position in shares of Vertiv in the 1st quarter worth approximately $266,000. Private Advisor Group LLC increased its stake in shares of Vertiv by 40.1% in the first quarter. Private Advisor Group LLC now owns 29,703 shares of the company’s stock valued at $2,426,000 after buying an additional 8,504 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Vertiv by 335.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 36,508 shares of the company’s stock worth $2,982,000 after buying an additional 28,118 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Vertiv during the first quarter valued at approximately $46,000. Finally, Nordea Investment Management AB raised its holdings in Vertiv by 20.5% during the 1st quarter. Nordea Investment Management AB now owns 25,854 shares of the company’s stock worth $2,130,000 after purchasing an additional 4,398 shares during the last quarter. 89.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Oppenheimer boosted their price target on shares of Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America lifted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. The Goldman Sachs Group decreased their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Jefferies Financial Group assumed coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 price objective on the stock. Finally, Mizuho lifted their target price on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $122.11.

About Representative Gottheimer

Josh Gottheimer (Democratic Party) is a member of the U.S. House, representing New Jersey’s 5th Congressional District. He assumed office on January 3, 2017. His current term ends on January 3, 2025. Gottheimer (Democratic Party) is running for re-election to the U.S. House to represent New Jersey’s 5th Congressional District. He declared candidacy for the 2024 election. Gottheimer was first elected to the House in 2016. Prior to his election, Gottheimer worked for Microsoft, the Federal Communications Commission, and for the administration of President Bill Clinton (D). Click here for more information about Gottheimer’s career. Gottheimer serves on the House Financial Services Committee, where is a member of three subcommittees. For more on Gottheimer’s committee assignments, click here. Gottheimer became a co-chair of the Problem Solvers Caucus in February 2017. Gottheimer attended the University of Pennsylvania for his undergraduate degree. He became a Thouron Fellow at Oxford and attended Harvard Law School. Gottheimer worked as a speech writer under former President Bill Clinton (D), assisting with two State of the Union addresses, among other projects. Before running for Congress, he worked for Microsoft as a general manager for corporate strategy.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.